Acuitus inaugural auction off to a great start

17th May 2010

The inaugural auction of Acuitus, which takes place at 2pm on 27th May 2010 at the Millennium Hotel, 39-44 Grosvenor Square, London W1, includes 52 properties of high quality retail, office, industrial, leisure and public house investments including banks let to Barclays, HSBC, Lloyds and Santander and medical centres.

Richard Auterac, Chairman and Auctioneer of Acuitus, said “this is the first auction under the name of our new business, Acuitus. We are offering the properties, on behalf of long standing clients as well as, we are delighted to say, a number of new clients including receivers. As Acuitus comprises the former Jones Lang LaSalle auction business we are especially pleased we are acting jointly with our former colleagues on the sale of a number of investments.

 “I am delighted how the Acuitus team with our advisors have not only built a seamless full auction service offering since the recent launch of the company, but have also worked with some of the most established property owners and investors in the market to release a catalogue of such standing.” 

 “The latest quarterly IPD ARAS report, created jointly between Acuitus and Jones Lang LaSalle shows that the auction market recorded a positive start to this year with total turnover improving by 30% in Q1 2010 compared to Q1 2009. We anticipate this trend continuing over the short term, in particular for prime products.  Grade A stock let to blue chip tenants were the most popular lots achieving an average yield of 5.67%, although a number of individual assets achieved well under 5%. With realistic pricing the majority of these properties were sold in excess of their guide prices.”

 “The lead up to the general election has not appeared to impact on investor confidence and, as property is a long term investment, any short-lived uncertainty there is before the political mist clears is unlikely to drive investors away from the comfort of bricks and mortar.”

 Included in the catalogue:

Amongst the 52 lots for sale are: ten first class investments Acuitus is selling for LPA Receivers, Richard Stanley and Jemma McAndrew of Jones Lang LaSalle and Peter Welborn and Nigel Nattress of Knight Frank. In addition, Acuitus is delighted to offer two sale and leasebacks for Barclays Bank and four further stores from The Co-Operative Group. The team continues its long-standing relationship with National Grid as well as Legal and General Investment Management and a number of major property companies. 


For further information please contact:

Richard Auterac Chairman and Auctioneer Acuitus DD  020 7034 4851 M  07836 742 833